Mortgage Rates 11/10/14 Update

Mortgage rates have been pretty steady for a couple of weeks, since we had the one day dip. Mortgage Backed Security, MBS, Pricing has seen pricing erode a little, almost, every day, except for last Friday when we say some price appreciation from the jobs report. When MBS appreciate in price rates get better, they are a bond and follow the inverse trading relationship. The markets are closed tomorrow, we have several treasury auctions and this Friday brings Retail Sales and Consumer sentiment numbers, these all could impact rates. You can see from the graph that MBS are trading just above support. With rates still being close to year lows it is not a bad idea to lock into these.